In the offer that took place yesterday, the amount of notes the Canaccord customers get in the restructuring has been bought by an unnamed buyer. We surmise that the unnamed buyer either is a member of the pan-Canadian committee or is Scotiabank or another bank and has decided to participate with Canaccord in having the Canaccord retail customers' problem go away. Canaccord topped up that base purchase to the full par amount, and yesterday Canaccord took a $54 million writeoff. So it was very painful, and probably for the first time in Canadian history, a financial institution was brought to heel and to account for selling flawed product that caused damage to their customers.
